Iran tells IAEA it plans to scale back cooperation in a week
Iran has told the U.N. nuclear watchdog it will dramatically scale back cooperation with it in a week, a report by the agency to its member states showed on Tuesday, Continue Reading
Iran to Tightly Restrict Inspectors’ Access if U.S. Sanctions Not Lifted
Iran has warned it would tear up much of the international monitoring of its nuclear activities next week if the U.S. doesn’t lift economic sanctions, in a fresh bid to pressure Continue Reading
FEATURE: Plans for second Aramco share sale increase oil price pressure on Saudi Arabia
Spurred by the accelerating global energy transition, Saudi Arabia may soon sell more shares of its flagship oil company to finance projects aimed at diversifying its hydrocarbon-reliant economy. The plan Continue Reading
Biden plans to ‘recalibrate’ Saudi relations in shot at MbS –
President Joe Biden plans to shift U.S. relations with Saudi Arabia and will conduct diplomacy through Saudi King Salman bin Abdulaziz rather than his powerful son, Crown Prince Mohammed bin Continue Reading
Iraq rocket attack hits U.S. forces, killing contractor
A rocket attack on U.S.-led forces in northern Iraq on Monday killed a civilian contractor and injured a U.S. service member, the U.S. coalition in Iraq said, in the deadliest Continue Reading
Iran Says U.S. Attempt to Seize Oil Cargo Is ‘Act of Piracy’
Iran said an attempt by the U.S. government to seize 2 million barrels of oil aboard a Greek-owned tanker was “an act of piracy,” as tensions between Washington and the Continue Reading
Iran will scale back its nuclear commitments if 2015 obligations not revived
Iran will further scale back its commitments under the 2015 nuclear deal if other parties to the pact fail to fulfill their obligations, Iranian foreign ministry spokesman said on Monday. Continue Reading
Green Hydrogen Plant in Saudi Desert Aims to Amp Up Clean Power
Can a multibillion-dollar project in the Saudi desert jump-start the demand for green hydrogen, an elusive energy source that could help eliminate carbon emissions from vehicles, power plants and heavy industry? Continue Reading
Iran Is Facing A Stranded Oil Asset Crisis
Iran risks having its massive crude oil assets become stranded unless the United States lifts the sanctions that the Trump administrations imposed on Tehran three years ago, Reuters has reported Continue Reading
Saudi Aramco Looks To Lure Buyers To Pipeline Unit With $10B Loan
Saudi Aramco, the world’s biggest oil company, is discussing with banks the idea to offer the potential buyers of its pipeline business a staple financing package of up to US$10 Continue Reading
US Sells Seized Iranian Fuel As It Looks To Detain Another Oil Tanker
The United States has completed the sale of 1.116 million barrels of gasoline that Iran tried to ship to Venezuela last year, U.S. Department of Justice spokesman Marc Raimondi told Continue Reading
Iran produces uranium metal, IAEA says, in latest breach of deal
Iran has carried out its plan to produce uranium metal, the U.N. atomic watchdog confirmed on Wednesday, despite Western powers having warned Iran that would breach their 2015 nuclear deal Continue Reading
Iran’s Geopolitical Powerplay Continues With Iraqi Oil Deals
It was no coincidence that just over a month after staunch U.S. ally-Israel and the United Arab Emirates declared that they would normalise relations and Israel and Bahrain did the Continue Reading
Iran’s vaccination drive becomes ensnared in geopolitics
With huge national fanfare, Iran rolled out its Covid-19 vaccine campaign with a television broadcast of the health minister’s son receiving Russia’s Sputnik V jab. “My father would not have let Continue Reading
FUJAIRAH DATA: Stocks of oil products hit 2-month low as all categories shrink
Oil products stockpiles at the Port of Fujairah outside of the Strait of Hormuz in the Persian Gulf dropped to a two-month low, with some traders forced to buy marine Continue Reading
Qatar Approves World’s Largest LNG Project
Qatar Petroleum took this week the final investment decision to build what it says would be the world’s largest liquefied natural gas (LNG) project in terms of capacity, as the Continue Reading
UAE Aims To Triple Its Solar Installations By 2025
The installed renewable capacity of the United Arab Emirates, which until recently was nearly non-existent, concluded 2020 at 2.3 gigawatts (GW), around 91% of which comprises of solar PV projects, Continue Reading
Iraq committed to OPEC+ cuts, future output hikes linked to oil demand: deputy minister
Iraq is committed to the OPEC+ output cuts and will only boost its future crude production if there is demand from international oil markets, a deputy oil minister told the Continue Reading
Saudi Aramco prepares $10 billion loan for pipeline business buyers: sources
Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant Continue Reading
Green Hydrogen Plant in Saudi Desert Aims to Amp Up Clean Power
Can a multibillion-dollar project in the Saudi desert jump-start the demand for green hydrogen, an elusive energy source that could help eliminate carbon emissions from vehicles, power plants and heavy industry? Continue Reading
How Biden’s Posturing In The Middle East Could Hurt America
The new Biden Administration has largely been focused on fulfilling its election promises in its first month in power. After reversing an extensive list of Trump policies via executive orders, Continue Reading
Iraq Wants Oil At $80
Iraq needs crude oil to trade at $80 a barrel to be able to plug its budget holes, according to oil minister Ihsan Abdul Jabbar Ismail. In an interview with Continue Reading
Aramco Remains Second Most Valuable Oil Brand In The World
Saudi state oil giant Aramco remained the second most valuable brand in the oil and gas industry last year, with a value of $35.7 billion, according to Brand Finance. This Continue Reading
Iran Denies Knowledge Of Oil Tanker U.S. Wants To Seize
Iran has denied any knowledge of an oil tanker that the United States has targeted for seizure because it was used to export crude from Iran despite U.S. sanctions, Bloomberg Continue Reading
Iraq to ramp up refining capacity by more than 80,000 b/d in 2021: oil minister
Iraq plans to ramp up its refining capacity by more than 80,000 b/d in 2021, oil minister Ihsan Ismaael said Feb. 8, as OPEC’s second largest producer seeks to lower Continue Reading
The Oil Deal That Could Destroy Iraq From Within
The new Biden Administration has largely been focused on fulfilling its election promises in its first month in power. After reversing an extensive list of Trump policies via executive orders, Continue Reading
Saudi Arabia’s future city Neom plans hydrogen-based ecosystem
Highlights 574 MW gas-fired power plant being phased out Saudi Aramco, SABIC, Maaden could get involved ‘Various scenarios’ of 15-30 GW of installed renewables capacity Dubai — Saudi Arabia’s future Continue Reading
Biden Won’t Lift Iran Sanctions to Bring Tehran Back to Negotiating Table
President Biden said the U.S. won’t make the first move to restart negotiations with Tehran over the 2015 nuclear accord, indicating he would only lift sanctions if Iran stops enriching Continue Reading
Iran takes ‘final’ stance on nuclear deal, says U.S. must lift sanctions before Tehran rejoins
Iran’s Supreme Leader Ayatollah Ali Khamenei said on Sunday that Tehran’s “final and irreversible” decision was to return to compliance with the 2015 nuclear deal only if Washington lifts sanctions Continue Reading
Iran’s natural gas output hits record high even as US sanctions curb investment
Iran’s natural gas production has reached a record high even as US sanctions caused major international exploration companies to scale back their activities in the Islamic Republic. Receive daily email Continue Reading
Iran’s Khamenei: U.S. must lift sanctions for Tehran to return to nuclear commitments
Iran’s Supreme Leader Ayatollah Ali Khamenei said on Sunday that the United States should lift all sanctions if Washington wants Tehran to reverse its nuclear steps. “Iran has fulfilled all Continue Reading
Experts: A New Iran Nuclear Deal Seems Unlikely
A key complicating factor in the ‘if and when’ conjecture over the U.S. and Iran re-opening talks on the Join Comprehensive Plan of Action (JCPOA) in light of the new Continue Reading
U.S. to revoke terrorist designation of Yemen’s Houthis due to famine
The United States said on Friday it intends to revoke the terrorist designation for Yemen’s Houthi movement in response to the country’s humanitarian crisis, reversing one of the most criticised Continue Reading
Iran U.N. Inspectors Find Radioactive Traces, Raising Fresh Concerns
United Nations inspectors have found new evidence of undeclared nuclear activities in Iran, according to three diplomats briefed on the discovery, raising new questions about the scope of the country’s Continue Reading
White House exploring how US might rejoin Iran deal
A central question facing the White House is whether to trade U.S. actions for Iranian ones as a way of bringing both nations back within the fold of the 2015 Continue Reading
Qatar Loses Interest In Europe’s LNG Market
Qatar could not have a better start to 2021, first scoring a major political goal by restoring diplomatic relations with Saudi Arabia and ending its almost 4-year long embargo. Following Continue Reading
Biden Announces End of U.S. Support to Saudi War in Yemen
President Biden outlined a sweeping vision of restored American global leadership on Thursday, announcing an end to U.S. support for Saudi Arabia’s military campaign in Yemen and vowing to confront Continue Reading
Oil price rebound and new crude grade boosts Iraq exports
Iraq’s nationwide oil exports declined slightly from 3.304 million barrels per day (bpd) in December to 3.266 million bpd in January, according to an Iraq Oil Report analysis of data Continue Reading
IRAQ DATA: January crude output 50,000 b/d below OPEC+ quota: SOMO
Iraq produced 3.807 million b/d of crude in January, including from the semi-autonomous Kurdistan region, the country’s State Oil Marketing Organization said Feb. 3, as it took criticism from an Continue Reading
Iran Agrees to Free South Korean Ship’s Crew
Iran has agreed to free the 20-member crew of a seized South Korea-flagged ship, both countries said Tuesday, in what appeared to be the first significant gesture by the Iranians Continue Reading
Will Saudi Arabia’s Surprise Production Cut Backfire?
Global energy markets and industry insiders believe that it was a good idea for Saudi Arabia to slash oil production by one million barrels daily until the end of March Continue Reading
Partners in Israel’s Tamar gas field reach new marketing settlement
The partners in the Tamar gas field offshore Israel have reached a preliminary agreement over the marketing of gas production from the asset following a disagreement in 2020 over sales Continue Reading
IRAQ DATA: Jan federal oil exports rise 0.8% on month, indicate slight OPEC+ quota noncompliance
Iraq’s federal oil exports in January rose 0.8% month on month amid signs OPEC’s second-largest producer continued to pump above its quota of 3.857 million b/d. Receive daily email alerts, Continue Reading
Crude oil futures tick higher as Saudi Arabia’s voluntary production cuts begin
Singapore — 0352 GMT: Crude oil futures were buoyed as Saudi Arabia’s voluntary 1 million b/d production cuts, announced in January, took effect, even as concerns of flailing energy demand Continue Reading
Israel sees 6-month Iran nuclear breakout, longer than Blinken projection
Israel’s energy minister said on Tuesday it would take Iran around six months to produce enough fissile material for a single nuclear weapon, a timeline almost twice as long as Continue Reading
Iran Launches New Rocket, Showing Advances in Potential Missile Technology
Iran tested a new rocket on Monday with improved technology that could be used in its missile program, its latest attempt to raise the stakes for the Biden administration ahead Continue Reading
Aramco’s New Stock Offering Looks Doomed From The Start
More shares in flagship oil and gas company, Saudi Aramco (Aramco), may be released for sale to the public if conditions are right, said the Governor of Saudi Arabia’s sovereign Continue Reading
Iraq Raises Crude Oil Exports In January
Iraq’s oil exports increased slightly in January 2021 compared to December 2020, data from the country’s oil ministry showed on Monday, suggesting that Iraq is again looking to maximize oil Continue Reading
Biden adviser Jake Sullivan suggests fast timeline to rejoin Iran nuclear deal
President Biden is eyeing an urgent restoration of the international nuclear deal with Iran as a first step to deal with a range of threats from that country, new national Continue Reading
Israel extends lockdown, sees delay in COVID-19 turnaround
Israel extended a national lockdown on Sunday as coronavirus variants offset its vaccination drive and officials predicted a delay in a turnaround from the health and economic crisis. Highlighting Israel’s Continue Reading